Government and RBI on the same page on various issues including cryptocurrencies, says finance minister
Finance Minister Nirmala Sitharaman on Monday said that there is complete harmony between her department and the Reserve Bank of India (RBI) on all matters including cryptocurrencies. She added that there is respect for each other’s fields and priority is given to the national interest.
She spoke to people in the media after the RBI board meeting.
“Not just about cryptocurrencies, but about everything else. I think we are working in complete harmony, respecting each other’s fields and also knowing what we have to do with each other’s priorities and in the national interest. There is no mess here,” Ms. Sitharaman was quoted as saying by the agencies.
With RBI & Ministry, not only about crypto but about everything else, I think there is complete harmony with what we are working on, respecting each other’s domain as well as knowing what we have to do with it. each other’s priorities and concern for the nation. No pitch here: FM pic.twitter.com/ub4aDmZCfU
– ANI (@ANI) February 14, 2022
For his part, RBI governor Shaktikanta Das said that the issue of cryptocurrencies is being discussed internally between the central bank and the government.
“Whatever point we have, we have discussed with the government. Other than that, I think I wouldn’t want to present more,” said Mr. Das.
Ms. Sitharaman, when presenting the budget on February 1, said that a digital currency that will be issued by the central bank in the next fiscal, will use blockchain technology. The Budget also proposes amending the RBI Act to introduce a proposed central bank digital currency (CBDC), which will operate concurrently with traditional paper money.
Last week, Mr. Das said that private cryptocurrencies pose a threat to macroeconomics and financial stability, and would undermine the central bank’s ability to respond to challenges. awake on two sides. In a message to investors, he said that such assets do not have anything fundamental, “not even a tulip”.
Meanwhile, the finance minister reacted to the draft LIC red herring prospectus, saying there was “positive buzz in the air” about it.
She says that a big decision like this is never “a knee-jerk reaction. It’s made with consciousness… And I can see after the announcement, the reception, there’s an air of buzz. “.
